Biogen Downgraded On Pipeline Setbacks And Leqembi Sales Slowdown
Jefferies downgraded Biogen Inc (NASDAQ:BIIB), citing the company’s tough setup.
Leqembi (lecanemab) sales growth remains sluggish, falling below consensus projections through 2030.
Challenges like PET scan reimbursement, slow protocol updates at major hospital networks, and identifying eligible patients continue to hinder adoption.
The analyst sees limited downside at current valuations and notes that continued pipeline progress, regulatory approvals, and a successful lecanemab launch could push the stock to around $350.
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Additionally, Jefferies writes that strategic options, particularly amid the CEO transition, provide a safety net if the stock drops to about $175.
Biogen acknowledges these obstacles vary by hospital or office, adding complexity to addressing them and setting clear timelines for …
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